Funding you earn now, next payment 01:00 UTC−0.0355%/8h= −38.8% APRnext payment −$0.44 per $10,000 · paid last 24h −0.032%
Price spread now: Phoenix against Backpack−0.026%80s7-day average −0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$820.823% of the position
Funding, last 7 days−0.260%−$26 on $10k
+Price spread, last 4 days (all we have)+1.411%+$141 · spread now −0.026%, 7d avg −0.035%
=The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XRP_USDC_PERP | 1.5164 | 0.0355 | pay 0.0044% / 1h | 43m 39s | $1.9M | $1.3M | 25x |
| Short | Phoenix XRP | 1.5160 | 0 | get 0.0000% / 1h | 43m 39s | $67K | $110K | 15x |
Backpack XRP_USDC_PERP
Phoenix XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.46
- Price spread: −0.026% → −0.035%
- $0.82
- Slippage, 4 orders
- −$65.32
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$155.96
- Costs to cover
- 0.823%
- Break-even
- never at this rate
Slippage from Backpack: live order book, just now; Phoenix: live order book, 4 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, just now | 0.33 bp | 5.3 bp −$5 | 7.0 bp −$70 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 6.57 bp | 35.9 bp −$36 | 83.5 bp −$835 | doesn't fit | doesn't fit |
XRP on 51 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5156 | −0.053% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5155 | −0.061% | $1.1M | $120K | 10x | as long as short |
| Phoenix XRPshort | 0.0000% | 1h | 1.5160 | −0.026% | $67K | $110K | 15x | |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5147 | −0.110% | $253K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0023% / S +0.0065% | 1h | 1.5141 | −0.154% | $830K | — | 200x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.611% | $2K | $107K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0040% | 1h | 1.5148 | −0.107% | $14.6M | $72.4M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0068% | 8h | 1.5156 | −0.053% | $57K | $945K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5150 | −0.093% | $2.8M | $14.1M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5157 | −0.046% | $518K | $3.3M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5153 | −0.073% | $11K | $305K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5151 | −0.082% | $877K | $5.8M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5160 | −0.025% | $38.4M | $84.5M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5153 | −0.073% | $611K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5147 | −0.111% | $536.2M | $2.10B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5150 | −0.092% | $337.7M | $938.6M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5152 | −0.079% | $123.9M | $871.2M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5157 | −0.046% | $564K | $27K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5157 | −0.046% | $115K | $723K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5183 | +0.124% | $1.6M | $305K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5150 | −0.092% | $367.9M | $150.2M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5144 | −0.132% | $291.9M | $899.9M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5145 | −0.129% | $108.3M | $171.6M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5147 | −0.112% | $264.8M | $384.0M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5144 | −0.132% | — | $4.1M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5155 | −0.058% | $6.2M | $35.8M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5178 | +0.093% | $660K | $108.5M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5207 | +0.284% | $1.1M | $38.3M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5185 | +0.138% | $1.2M | $1.0M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5149 | −0.099% | — | $12K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5155 | −0.059% | $45K | $453K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5145 | −0.128% | $41K | $69K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5159 | −0.035% | $816K | $74K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5151 | −0.087% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5153 | −0.073% | $30K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5153 | −0.074% | $49.7M | $15.5M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5155 | −0.059% | $53.8M | $29.5M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5152 | −0.077% | $472K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5146 | −0.121% | $2.0M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5155 | −0.056% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0136% | 1h | 1.5161 | −0.020% | $8K | $8K | 10x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0146% | 1h | 1.5160 | −0.026% | $9.0M | $25.0M | 50x | as long as short |
| Hyperliquid XRP | +0.0180% | 1h | 1.5173 | +0.063% | $280.7M | $223.2M | 20x | as long as short |
| Reya XRPRUSDPERP | +0.0214% | 1h | 1.5133 | −0.202% | $1.3M | $7K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5156 | −0.053% | $5.7M | $46.5M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5193 | +0.191% | $24.0M | $75.2M | 125x | as long as short |
| Hibachi XRP/USDT-P | +0.0328% | 1h | 1.5141 | −0.149% | $17K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0335% | 8h | 1.5152 | −0.079% | $2.1M | $36.0M | 2.9x | as long as short |
| Backpack XRP_USDC_PERPlong | +0.0355% | 1h | 1.5164 | long leg | $1.9M | $1.3M | 25x | |
| RISEx XRP/USDC | +0.0456% | 1h | 1.5158 | −0.042% | $537K | $782K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0801% | 1h | 1.5166 | +0.012% | $2K | $14K | 10x | as long as short |
Katana Perps XRP-USD
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Deribit XRP_USDC-PERPETUAL
Hyperliquid XRP
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD